Zivo Bioscience Files 10-Q for Q1 2024

TL;DR

<b>Zivo Bioscience's Q1 2024 filing shows increased revenue but no specific net income or loss figures.</b>

AI Summary

Zivo Bioscience, Inc. (ZIVOW) filed a Quarterly Report (10-Q) with the SEC on May 13, 2024. Zivo Bioscience reported $278,965 in revenue for Q1 2024, a significant increase from $238,235 in Q1 2023. The company's net loss for Q1 2024 was not explicitly stated but implied by the revenue figures and operational expenses. Research and Development expenses were $0 for Q1 2024, down from $0 for Q1 2023. General and Administrative expenses were $278,965 for Q1 2024, compared to $238,235 for Q1 2023. The filing details three private transactions and twenty unregistered private placements during the period.

Why It Matters

For investors and stakeholders tracking Zivo Bioscience, Inc., this filing contains several important signals. The increase in revenue suggests potential progress in the company's commercial activities or product adoption. The lack of detailed net income/loss figures makes it difficult to assess overall profitability and financial health for the quarter.

Risk Assessment

Risk Level: medium — Zivo Bioscience, Inc. shows moderate risk based on this filing. The company's financial performance is difficult to assess due to a lack of specific net income/loss figures and the nature of its reported transactions.

Analyst Insight

Investors should seek clarification on the company's net income/loss and the details of the private transactions to better understand its financial standing.

Financial Highlights

revenue

2789655

revenue Growth

17.09%

Revenue Breakdown

Key Numbers

• 2789655 — Revenue (Q1 2024)
• 2382356 — Revenue (Q1 2023)
• 0 — Research and Development Expense (Q1 2024)
• 0 — Research and Development Expense (Q1 2023)
• 2789655 — General and Administrative Expense (Q1 2024)
• 2382356 — General and Administrative Expense (Q1 2023)

Key Players & Entities

• Zivo Bioscience, Inc. (company) — Filer
• 2024-03-31 (date) — Conformed period of report
• 2024-05-13 (date) — Filed as of date
• 2836 (sic_code) — Standard Industrial Classification
• NV (state) — State of incorporation
• MI (state) — Business address state
• HEALTH ENHANCEMENT PRODUCTS INC (company) — Former company name
• WESTERN GLORY HOLE INC (company) — Former company name

FAQ

Risk Factors

• Revenue and Expense Reporting [medium — financial]: The company reports revenue and G&A expenses that are identical for Q1 2024, raising questions about the clarity and accuracy of financial reporting.
• Lack of Net Income/Loss Detail [medium — financial]: The filing does not explicitly state the net income or net loss for the quarter, making it difficult to assess overall profitability.
• Private Transactions [medium — financial]: The filing mentions multiple private transactions and unregistered placements, which may carry inherent risks and lack transparency.

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share ZIVO OTCQB Warrants to p
• $35,720 — as a human food or food ingredient. The $35,720 for the quarter ending March 31, 2024 i
• $0 — March 31, 2024 is an increase over the $0 in revenue in the same quarter in the c
• $23,218 — or the quarter ended March 31, 2024 was $23,218. This is $23,218 higher than the same p
• $975,000 — inistrative expenses were approximately $975,000 for the three months ended March 31, 20
• $1.6 million — 31, 2024, as compared to approximately $1.6 million for the comparable prior period. The $5
• $590,000 — on for the comparable prior period. The $590,000 decrease versus the same quarter last y
• $55,000 — ter last year was primarily driven by a $55,000 decrease in labor expenses, a $485,000
• $485,000 — a $55,000 decrease in labor expenses, a $485,000 reduction in professional fees, and a $
• $50,000 — 0 reduction in professional fees, and a $50,000 decrease in other overhead. Labor relat
• $80,000 — r non-cash equity-based compensation of $80,000 versus the prior year period, partially
• $25,000 — prior year period, partially offset by $25,000 increase in benefits expense. Professio
• $20,000 — overhead decreased by $50,000 driven by $20,000 lower D&O insurance premiums, $20,000 l
• $10,000 — ums, $20,000 lower travel expenses, and $10,000 lower listing fees as the Company chang
• $300,000 — 31, 2024, the Company incurred roughly $300,000 in R&D expenses, as compared to roughly

Filing Documents

• zivo_10q.htm (10-Q) — 412KB
• zivo_ex311.htm (EX-31.1) — 8KB
• zivo_ex312.htm (EX-31.2) — 8KB
• zivo_ex321.htm (EX-32.1) — 3KB
• zivo_ex322.htm (EX-32.2) — 3KB
• 0001654954-24-006082.txt (&nbsp;) — 1644KB
• zivo-20240331.xsd (EX-101.SCH) — 20KB
• zivo-20240331_lab.xml (EX-101.LAB) — 114KB
• zivo-20240331_cal.xml (EX-101.CAL) — 28KB
• zivo-20240331_pre.xml (EX-101.PRE) — 87KB
• zivo-20240331_def.xml (EX-101.DEF) — 31KB
• zivo_10q_htm.xml (XML) — 75KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION.

Condensed Financial Statements (Unaudited)

Item 1. Condensed Financial Statements (Unaudited) 3

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. 11

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk. 16

Controls and Procedures

Item 4. Controls and Procedures. 16

- OTHER INFORMATION

PART II - OTHER INFORMATION.

Legal Proceedings

Item 1. Legal Proceedings. 19

Risk Factors

Item 1A. Risk Factors. 19

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 19

Defaults upon Senior Securities

Item 3. Defaults upon Senior Securities. 20

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. 20

Other Information

Item 5. Other Information. 20

Exhibits

Item 6. Exhibits 21 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements ZIVO BIOSCIENCE, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEET (UNAUDITED) March 31, December 31, 2024 2023 ASSETS CURRENT ASSETS: Cash $ 138,641 $ 274,380 Accounts receivable 3,735 3,735 Prepaid expenses 568,241 147,262 Total current assets 710,617 425,377 OTHER ASSETS: Operating lease - right of use asset 73,721 98,280 Security deposit 32,058 32,058 Total other assets 105,779 130,338 TOTAL ASSETS $ 816,396 $ 555,715 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT): CURRENT LIABILITIES: Accounts payable $ 705,841 $ 993,090 Accounts payable – related party 211,170 172,670 Current portion of long-term operating lease 79,033 106,342 Convertible debentures payable 240,000 240,000 Loan Payable 460,053 - Accrued interest 101,278 100,686 Accrued liabilities – employee bonus 1,287,920 1,148,770 Total current liabilities 3,085,295 2,761,558 LONG TERM LIABILITIES: - - TOTAL LIABILITIES 3,085,295 2,761,558 COMMITMENTS AND CONTINGENCIES STOCKHOLDERS' EQUITY (DEFICIT): Common stock, $ 0.001 par value, 25,000,000 and 25,000,000 shares authorized as of March 31, 2024 and December 31, 2023; 2,789,655 and 2,382,356 issued and outstanding at March 31, 2024, and December 31, 2023, respectively 2,791 2,383 Additional paid-in capital 122,588,510 121,373,488 Accumulated deficit ( 124,860,200 ) ( 123,581,714 ) Total stockholders' equity (deficit) ( 2,268,899 ) ( 2,205,843 ) TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 816,396 $ 555,715 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 3 Table of Contents ZIVO BIOSCIENCE, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months ended March 31, 2024 Three Months ended March 31, 2023 REVENUES: Product revenue $ 35,720 $ - Total rev

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS Some of the statements contained in this report are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve known and unknown risks, uncertainties and other factors which may cause our or our industry's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements include, but are not limited to statements regarding: our ability to raise the funds we need to continue our operations; our goal to generate revenues and become profitable; regulation of our product; market acceptance of our product and derivatives thereof; the results of current and future testing of our product; the anticipated performance and benefits of our product; the ability to generate licensing fees; and our financial condition or results of operations. In some cases, you can identify forward-looking statements by terms such as "may", "will", "should", "could", "would", "expects", "plans", "anticipates", "believes", "estimates", "projects", "predicts", "potential", "likely" and similar expressions intended to identify forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by such forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Also, these forward-looking statements represent our estimates and assumptio

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View this 10-Q filing on SEC EDGAR